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Highway 12 Ventures, Inc.  CERTIFIED

No New Investments Warning:
Members have submitted information that the following organization(s) may not be making investments into new portfolio companies. This warning can be contested by submitting proof of a completed investment in a new portfolio company within the last four weeks here.

Firm Rating:

Rated 2.9 / 5.0 by 11
Track
Record
2.5
Operating
Competence
2.8
Pitching
Efficiency
2.8
Favorable
Deal Terms
3.2
Execution
Assistance
3.1

Firm Homepage:

FIRM OVERVIEW: Medium Private VC founded in 2001 based out of Boise, USA (US West)

FIRM DESCRIPTION: Highway 12 Ventures is an early-stage venture capital fund focused on investing in the most promising high-growth, start-up companies in the Intermountain West states of Idaho, Montana, Utah and Colorado. We understand the unique challenges of building a company in this region and work hard to bring valuable resources to its entrepreneurs. With over $100 million under management, we are one of the largest venture firms in the region.

TEAM MEMBERS: Archie Clemins, Denise DeCarli, George Mulhern, Glenn Michael, Mark Solon, Matt Warta, Phil Reed,

6
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Thoughtful Firm

Fund: Highway 12 Ventures, Inc.

Posted by Pete Gombert on 2007-06-29

PUBLIC:

Highway 12 is one of the most thoughtful and respectful firms that I have ever dealt with.

Having lead 3 startups I have dealt with my fair share of venture firms and as we all know, this can be an unsavory industry. Highway 12 stands out in my mind for two things in particular:

1. Integrity - The actually stand by their word. There is not much more you can say about that, but it means a hell of a lot to me as an entrepreneur.

2. They work hard for their companies - So many times the venture firms that I have worked with promise the "value added" or "strategic" relationships and never deliver. H12 is the complete opposite. Mark in particular has an amazing network and will not hesitate to use it. My current company is not even part of the Highway 12 portfolio and I consistently receive helpful introductions from Mark and the other partners.

They understand that the entrepreneurial community is relatively small and being helpful to their portfolio companies and to the companies pitching will be a good thing for them in the long run.

I would highly recommend a conversation with them if you are looking for a thoughtful hardworking firm.

PRIVATE: Members Only (498 Characters)

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Very Helpful

Fund: Highway 12 Ventures, Inc.

Posted by specvil on 2008-02-26

PUBLIC:

We met with Highway 12 a few years back when we were starting our company and looking for very early stage funding. While they were not interested in our company at the time both Mark Solon and Phil Reed were extremely helpful. They took a lot of time with us and made valuable suggestions. We ended up bootstrapping our company instead of raising money but if we ever decide to seek venture funds Highway 12 would be one of my first calls because of the time these guys took with us. I can tell that they would bring more than money to the table.

PRIVATE: Members Only

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Chairman and CEO

Fund: Highway 12 Ventures, Inc.

Posted by craigdnorris on 2007-06-06

PUBLIC:

The fund specializes in investments in the mountain states and is affiliated with Village Ventures. While small they provide a competency and operating wisdom and connections that are well beyond what one might expect. They have clearly out-performed what I have gotten in the past from significantly larger VC's who often promise much but under-deliver. I find the team to be oriented to more the "traditional" in the best sense of the word venture investing, with an eye towards the long term, meeting customer needs, and creating lasting value. I have not worked with a more thoughtful, experienced and professional group than Highway 12 Ventures.

PRIVATE: Members Only (558 Characters)

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President/CEO

Fund: Highway 12 Ventures, Inc.

Posted by stevesi on 2007-09-11

PUBLIC:

Hwy12 is an early stage investment fund with primary capital placement in the intermountain west. They have a strong technical understanding of what we are doing, and, more importantly, a very solid understanding our market space. They provide a very positive helping relationship while not getting to close. I find their approach to be a very refreshing contrast to the Bay Area VC's that I have had experience with. They work collaboratively with local angels, bringing them into their deals when it makes sense. In fact, Phil Reed from Highway12 drove the founding of the local angel group as he recognized the need for an organized angel effort to compliment VC funding.

PRIVATE: Members Only (595 Characters)

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CEO

Fund: Highway 12 Ventures, Inc.

Posted by marksawyer020856 on 2007-06-12

PUBLIC:

Hwy12 is an early stage investment fund with primary capital placement in the intermountain west. Hwy12 has either led or co-led the financing of my two most recent companies. I sought them out on the second company owing to the wildly positive experience in the first. They are company-building, team-focused, operators-as-investors. Without getting too close or assuming too much operational influence, they work between board meetings to help their companies succeed. I highly recommend this firm. Like many, they focus on value-add beyond capital, but unlike most they deliver. If they are not able to deliver value beyond capital they will be the first to tell you during your fundraising efforts.

PRIVATE: Members Only (744 Characters)

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VC's and Politicians

Fund: Highway 12 Ventures, Inc.

Posted by Anonymous on 2007-08-18

PUBLIC:

These guys are campaigning for Idaho and the NW and doing a good job from an unlikely home base. They operate with more initiative than Portland and Salt Lake, and have none of Seattle's Valley-envy. As their track record grows, so will their confidence to lead deals. They are a follow on firm looking to attach their star to lead firms. Help them do that and you will have hard working, unpretentious partners.

PRIVATE: Members Only

2
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These Guys Hustle

Fund: Highway 12 Ventures, Inc.

Posted by termsheet on 2007-07-18

PUBLIC:

H12 is a small firm on their second fund. That said, they proactively reached out to us to learn about our business. We were impressed with their "hustle". There investment process was fair and fast. They made introductions to some of their LP's who were on the boards of Fortune 500 companies we wanted access to. Board level introductions like that are valuable. They also supported the management team's decision to sell our company when they had recently invested for the long haul. When a VC supports entrepreneurs even when their interests aren't perfectly aligned, that says a lot about the VC. That is the kind of VC I would work with again.

PRIVATE: Members Only (204 Characters)

2
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A True "Value Add"

Fund: Highway 12 Ventures, Inc.

Posted by farmallfan on 2007-07-12

PUBLIC:

Highway12 is an investor in my startup, although a minor one. That minority holding has given them observer rights as opposed to a full board seat, and I would have expected less help from an observer, but that's just not been the case. They've been extraordinarily helpful to us, and I'd want them involved in anything else I do, even if it didn't need VC funding. I'd take some investment just to have them at the table.

I think the most valuable quality of HW12 is that they believe the team is more important that the tech, the market, the product, whatever. In a VC environment where "parts is parts" is standard operating procedure, they stand out by valuing people.

The bottom line is that I've come to trust them, Mark Solon in particular.

PRIVATE: Members Only (602 Characters)

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Dry Powder: June 2007

Fund: Highway 12 Ventures, Inc.

Posted by bootstrapper on 2007-06-22

PUBLIC:

They just closed a $75M fund and have made 2 investments I'm told. I believe they do get less deal flow so could be an excellent partner and worth speaking with; very polite and great with follow-up.

PRIVATE: Members Only (676 Characters)

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President

Fund: Highway 12 Ventures, Inc.

Posted by Dan Farr on 2007-06-17

PUBLIC:

I know that our company has set some records for the length of time that a company takes to get ready for an investment. We had a lot of work to do plus the fact that we were profitable and not hungry to get a deal done. H12 waited patiently while we were able to get things squared away. We did not have to take an investment but the reason that we did is that Phil Reed was amazing to work with. We absolutely could have played the field a lot longer but the professional help that we are bringing into the business with H12 is going to significantly impact the growth rate of the business. I noticed that the numbers describing the investment range for H12 is very wrong. Their fund size is much higher than mentioned and they are able to invest several million dollars into a single deal.

It seems as though there is so much activity in the investment world now and we had many firms who had shown interest in working with us. We chose the firm that we felt would bring much more than just money to help us grow our business. I really believe that there is concern for the entrepreneurs and existing investors as well as their own.

I also spend some time talking with the employees (not management) of another company who H12 invested in and they really enjoyed working with Phil Reed as well. I would imagine that it is rare that company employees really get to know their investors at all. I would highly recommend anyone who has to opportunity to consider working with H12.

PRIVATE: Members Only (226 Characters)

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Winding down

Fund: Highway 12 Ventures, Inc.

Posted by Anonymous on 2012-09-21

PUBLIC:

Fund closing. No new investments for now.

PRIVATE: Members Only

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Kick Ass VC

Fund: Highway 12 Ventures, Inc.

Posted by davidleviking on 2011-04-19

PUBLIC:

Hwy 12 is an incredible firm. We met every partner and their hustling associate, Derek Keller before the round closed. They're accessible, hard working, and super down to earth. They focus on what matters, and their approach to investing in the Rocky Mountain West is a breath of fresh air. Glenn Michael is on our board and is super competent. We love his help and guidance. No regrets on closing a round with these guys.

PRIVATE: Members Only (275 Characters)